June sees drop in rental prices in Tel Aviv
Most significant drop in Tel Aviv recorded last month in three-room apartments in city center, whose prices dropped by almost 6%, totaling NIS 4,200 on average. Sharpest rise outside Tel Aviv – 6% in two-room flats in Haifa
The most significant drop in rent in Tel Aviv last month was recorded in three-room apartments in the city center, with the average rental price standing at NIS 4,200 (about $1,089) a month – a 5.9% drop compared to last month.
Another drop was noted in the northern part of the city, with the average rental price for a two-room apartment standing at NIS 3,450 ($895) a month – a 5.7% drop, and the price for a 3-room flat standing at NIS 4,850 ($1,254) a month – a 4.1% drop.
The southern part of the city also saw a 4.6% drop in rental prices for three-room apartments, with their price standing at NIS 3,100 ($804) a month. Two-room apartments in southern Tel Aviv, on the other hand, saw a 5.1% rise in rental prices, with tenants paying NIS 2,730 ($709) in the month of June.
In central Tel Aviv, the price of a two-room apartment remained unchanged, at NIS 3,480 ($903) per month.
Cities outside Tel Aviv saw a rise in average rental prices last month. The biggest increase was recorded in two-room apartments in Haifa – a 5.9% rise to NIS 1,700 ($441) a month. At the same time, the price of three-room apartments in the northern city remained unchanged at NIS 2,100 ($544) a month.
In Jerusalem, rental prices for two-room apartment have risen by 1.8% to NIS 2,850 ($738) per month. The rental price for a three-room apartment in the capital rose by 4.1%, standing at NIS 3,480 ($902) a month.
Rental prices rose in Beersheba as well. The average price of a two-room apartment in the city rose by 4.1%, reaching NIS 1,475 ($382), and the rental price for a three-room apartment in the southern city rose by 3.7% in the month of June, standing at NIS 1,850 ($479) a month.
